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Year over year statistical data for Solano County ending December, 2021

This report is generated around the 20th of each month once the previous months numbers have been posted. What we see here is a report generated for the Napa County Housing Market through December 2021. So we are always looking a month behind. Our statistics are derived from the Bay Area Real Estate Information Services (BAREIS)  This is the Multiple Listing Service provider for all real estate brokerages in Napa County. If you have questions or wish to know a more specific account of your properties value and the timing of either selling or buying we are always happy to jump on a Zoom or meet with you at your property to evaluate and discuss a strategy. We can be reached via cell/text 707.580.3499 or email us at concierge@elitepartnersrealestate.com

SOLD

125

LISTED

141

PRICE

$1,491,000

DOM

72

Finishing the year strong! That was the theme. Although we do see significant declines in all categories this is not unusual given the seasonal period and that during the months of November and December we see a slow down every year. We sold 125 homes in December 2021 vs. 140 homes in December 2020 which reflects a -10.7% decline in transactions while our current inventory remained down by -33.2% year over year with only 141 homes listed for sale.  

If we look to pre-pandemic numbers our inventory levels remain -50% less than what we had for sale in December 2019 while our sold inventory grew 26.3% from the 99 homes we sold back in December 2019. The fact remains that the market leans heavily towards sellers as inventory levels remain super low and buyer demand is very strong. Will this change as interest have already started to climb? We are expecting as much as 3/4 to 1 full point increase this year. As the saying goes… When interest rates go up home prices come down.  Our average price per square foot rose significantly from December 2020 as our current price is $692.00 a +28.9% increase year over year. 

2 year stats for napa county housing report december 2021

We end the year with the highest average sold price of $1,491,000 which is a 15 year high topping our August price point of $1,444,000. This is an increase of 25.1% year over year. The big descrepancy between listed prices and sold prices is because in Napa we have a substantial amount of high value luxury properties for sale at any given time. These homes sit on the market longer and therefor create and much higher price ceiling that homes selling within our average days on market timeline. In December the market slowed so much that we actually hit out 15 month days on market (DOM) high of 72 days which matches the DOM back in December 2020.

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The opinions expressed in this report are those of Don McDonald, Founding partner, and REALTOR with RE/MAX Elite Partners brokered through RE/MAX Gold. They are not in any way intended to express what RE/MAX, RE/MAX Gold or any other agent or brokerage may think. It is my honest analysis backed but some market data. Check back each month around the 25th or so for an update as we continue down this path. 

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